A waterfront home in North Bay Village has been sold by a member of the Simkins family to investor Pawan Singh, who has been actively acquiring properties in the area. According to an analysis by The Real Deal, Singh has spent $61.5 million on 11 houses, many of which are located along Terrace Drive and have water frontage. Through purchases made under his name and LLCs associated with him, Singh has assembled at least 2.5 acres of land and controls over 500 feet of waterfront, though not all the land is connected.
Singh serves as CEO of NavX Consulting, a management and technology consulting firm based in Vienna, Virginia. He previously held a principal role at Deloitte. Singh did not respond to requests for comment.
His most recent acquisition is also his largest: last week he bought a five-bedroom, four-bathroom house at 1365 Bay Terrace for $13.5 million. The property includes 215 feet of waterfront and was purchased through an LLC based in Falls Church, Virginia. Records indicate that Simkins had acquired the 3,700-square-foot home in 2016 for just over $3 million. Built in 1942, the corner lot features a pool and dock.
Singh began purchasing homes in North Bay Village in 2022 with the acquisition of a four-bedroom house at 1480 South Treasure Drive for $3.9 million. That home was built in 1950 and sits on a 0.2-acre lot with 60 feet of waterfront; Mark Stephan from Engel & Voelkers brokered that transaction.
At least one property owned by Singh is available for rent: a three-bedroom house at 7401 Miami View Drive is listed at $8,000 per month with Douglas Elliman’s Elizabeth Gazay as agent.
The trend toward assembling larger parcels of waterfront land continues elsewhere in Miami Beach. In July, developer Todd Michael Glaser and the Posner Group paid $105 million for a 2.3-acre estate at 5940 North Bay Road with plans to either flip it or develop it further.
North Bay Village homeowners include several developers and business owners such as Alexandra Eichner and Marc Megna, along with various real estate agents including Sam Heskial, Sari Libben Shapiro, and Chris Wands.
Chris Wands, an agent with Douglas Elliman who moved to North Bay Island in 2021, commented on what drew him to the area: “I felt it was undervalued with the connectivity to the beach and the mainland. Without traffic, I’m in the Design District or beach in 10 minutes,” he said. “My wife loved the idea that it had its own municipalities, police and fire.”
Last month saw another notable sale when a Miami businessman sold his waterfront home at 7520 West Treasure Drive for $12.5 million—one of the highest prices recorded in North Bay Village.
Several major condo and mixed-use projects are also planned for North Bay Village by developers such as Related Group, Macklowe Properties, Sunbeam Properties led by the Ansin family, Vivian Dimond’s partnership group, Continuum Company headed by the Eichners’, and Riviera Horizons led by Mikael Hamaoui.
